Alibaba Local Services Company Acquires Software Provider Keruyun

On February 24th, the Alibaba Local Services Company officially announced its acquisition of Keruyun, a SaaS company providing software and hardware for local lifestyle services such as catering and retail.

SEE ALSO:Alibaba Marks Homecoming with Hong Kong IPO

An important player in the field of B-side intelligence, Keruyun has been in the business for 8 years, and is committed to providing local service industry merchants with integrated software, hardware and cloud-based POS + SaaS solutions. The acquisition price is reported to have reached 800 million yuan.

Wang Lei, a partner of Alibaba Group and president of Alibaba Local Services Company, emphasized that the goal of Alibaba and Keruyun are quite similar, that is, to help local businesses reduce costs and increase revenue through digital solutions. “This is the inevitable direction of the local life service industry. Digital advancements must be integrated into online and offline operations,” he said, “The integration of Keruyun into the Alibaba ecosystem will also accelerate this upgrade process.”

The Alibaba Local Services company was established in 2018 through the merge of the company’s delivery service business and the local services platform Koubei.